Bitcoin 

Traditional Exchanges Pull Back From Reg A+ IPOs Due to Fraud Concerns

Traditional exchanges are holding off on Reg A+ initial public offerings (IPOs) following problematic offerings like that of purported cryptocurrency firm Longfin Corp., the Wall Street Journal (WSJ) reported on June 10. Earlier in June, the United States Securities and Exchange Commission’s (SEC) filed fraud charges against Longfin. The SEC claimed that Longfin fabricated 90% of its revenue and sold over 400,000 shares of Longfin that it did not have the funds to back in a scheme to secure its spot on the Nasdaq. The complaint also reportedly stated that…

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Bitcoin 

Reverse IPOs Slowly Growing as Cryptos Look to Go Public in the Long Bear Market

In a transaction that has all the hallmarks of a reverse initial public offering (IPO) — also called a reverse merger — OKC Holdings Corp., which is the parent company of OKCoin and OKEx (the world’s second-largest cryptocurrency exchange by trading volume) bought a controlling share in Leap Holdings Group on Jan. 14. Leap Holdings is a construction company listed on the Hong Kong Stock Exchange (HKEX), with a market cap of 978 million Hong Kong dollars ($124.7 million). OKC Holdings bought 3,182,790,001 shares at a price of HK$0.1520 ($0.019)…

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